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Finance
  • August 14 2019 1 in 3 organisations make employee payment mistakes regularly

    New data from an industry association has revealed that 1 in 3 Australian organisations admit to making employee payment mistakes every pay run, and the CEO and CFO never know about it. Across 45 per cent of organisations, it’s the employees who alert managers to the errors. The Australian Payroll Association (Australian Payroll Association) – Read More…

  • August 8 2019 SME cash flow risk can be avoided with proactive credit monitoring – here’s how

    It won’t come as a surprise to hear that inadequate cash flow is one of the main reasons why many small businesses in Australia fail, so for small businesses looking to get ahead, minimising the risk of bad debt should always be front of mind. With over 97 per cent of the 2.2 million actively Read More…

  • August 7 2019 What can and can’t be put through as “other” expenses

    By: Mark Chapman, H&R Block, Director of Tax Communications Each year, Australian taxpayers claim billions of dollars in deductions in their tax returns. Some of them, such as claims for using your car for work or the costs of work-related clothing, are quite easy to categorise and have their own box on the tax return. Read More…

  • August 1 2019 The essential guide to obtaining small business funding

    A Business Funding Guide that aims to tackle the funding crisis faced by Australian small businesses has been developed and launched by Kate Carnell, the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) in partnership with Scottish Pacific Business Finance. The guide is primarily written for accountants, bookkeepers, brokers and other financial advisers, to help their small business Read More…

  • July 30 2019 The hospitality problem: Why staff are being underpaid and how STP is set to stop it

    By: Angus Capel, Small Business Advocate, Xero George Calombaris is the latest in a long list of hospitality bosses to be caught underpaying their workers. This time, by millions of dollars. And while public response has been swift in condemning the now-former Masterchef star, this behaviour is nothing new within the industry. Indeed, it follows Read More…

  • July 16 2019 World’s highest minimum wage does not offset high tax rates

    According to the Organisation for Economic Co-operation and Development, Australia now has the world’s highest minimum wage. While this appears to be a positive step for low income Australian workers the increase in other factors such as taxes and the cost of living means that they do not reap the benefits of a higher minimum Read More…

  • July 12 2019 The power of crowdfunding

    Byline: Nic Frances Gilley, Co-Founder and Chairperson, DC Power Co Here at DC Power Co, crowdfunding is all about power. It’s not just the power of having funds, it’s the power of being owned by a collective of over 12,500 regular Australians, and the power of being able to build a new kind of company Read More…

  • July 10 2019 Real-time budgeting is a must for every business. Here’s why.

    By David De Laine, GM, ANZ, Oracle NetSuite Most businesses budget and plan for their next fiscal period at a set time every year – whether it’s at the start of the calendar year or in the lead up to the new financial year, which for the majority of businesses, starts at the beginning of Read More…

  • July 10 2019 Loan and tax tips for the fresh financial year

    By: Olly Guilleaume EOFY has come and gone. How’s your cash flow looking? The rush and pressure felt by many businesses at the end of the financial year have come and gone. Now that the smoke from EOFY has cleared, you can take a considered approach to setting business objectives and planning expenditures for the year ahead. Read More…

  • July 8 2019 What you need to know about credit

    It’s no secret that inadequate cash flow is one of the main reasons why businesses fail in Australia. Dynamic Business only recently talked about this issue last week, with new research commissioned by H&R Block found that the biggest struggles for small businesses across Australia are: ‘cashflow’ (35%) ‘marketing effectiveness’ (30%) ‘lack of support’ (19%) Read More…

  • July 8 2019 Slow paying customers and cashflow worries revealed as top concerns for Australia’s tradie economy 

    New research by St.George Bank reveals that 75% of tradies have aspirations to be self-employed in the next 12-18 months and female tradies are alive and kicking with 40% of representation in the research.  The St.George Bank Tradie Economy Report surveyed over 600 people across Australia who identify as a tradie or someone working in Read More…

  • July 3 2019 Six reasons to consider trade credit insurance in the new financial year

    With the global economy looking fragile and one of Australia’s largest trading partners, China, slowing down, it’s important for Australian business decision-makers to re-evaluate their position as the new financial year begins, according to Atradius. Mark Hoppe, managing director, Oceania, Atradius, said, “The start of the new financial year is traditionally an ideal opportunity for Read More…

  • July 2 2019 60% of small businesses shut down within first 3 years: H&R Block has ‘Grants for Growth’ to stop it

    With more than 60% [1] of small businesses shutting down within their first three years, Australia’s leading tax accountants, H&R Block are offering small business and start-up’s a helping hand with the initiative; ’Grants for Growth’.  Now in its second year, the grant offers support to budding entrepreneurs who need an extra boost to transform Read More…

  • July 1 2019 Happy new financial year! A small business guide to the tax changes

    By Matthew Prouse, Head of Industry, Xero Australia New financial year, new obligations and opportunities… If you’re like most small business owners, you’re probably focused on closing out the 2018-19 financial year. But it’s worth taking a moment to consider the year ahead too. There are new regulations to be aware of in 2019-20 – Read More…

  • July 1 2019 Why document management is critical for small business growth

    Byline: Scott Crosby, CEO, Upstream The merit in going paperless for small and medium businesses (SMBs) is clear: digitally stored documents, information, and files save businesses time, money, and resources. SMBs are increasingly taking up document management technology to better manage their finances, customer data, and employee details, leaving behind the physical paperwork proven to hold Read More…